Forum of Private Business responds to Ed Miliband’s speech at the Labour Party Conference

"The speech sought to provide solutions to the rising cost of living as well as the rising costs of doing business. The difficulty will be in policy areas where those conflict. The National Minimum Wage is an example of this.

"As we get closer to the election businesses will need to see more meaningful policies on late payment and the economy more generally, as well as a clear position on some of the positive deregulation that has taken place in employment law over the past three years.

On business rates

"This policy will be welcome help for our members. In a recent poll 94 per cent felt property taxation was too high. It is not ideal that this freeze would be funded from a reversal of a corporation tax reduction, but since the small firms' rate was to remain the same, this tax change should benefit small businesses."

On energy prices

"The best thing a Labour Party can do on energy is commit to long term security. We are not sure how they will reconcile frozen prices with the investment needed for that long term security but await to hear the proposals."